As part of a strategic move to strengthen its regional presence, New Event Developments, a leading real estate company, announced the launch of its first project in the Kingdom of Saudi Arabia — the luxurious residential development Sakan View in Jeddah.

This milestone crowns the company’s continued success in Egypt and affirms its commitment to capitalizing on the promising investment opportunities offered by Saudi Arabia’s ambitious Vision 2030.

Dr. Hamid Al Rajawi, Chairman of New Event Developments, stated, “After more than a year of in-depth study, we are proud to launch our first project in Saudi Arabia. Our choice to enter the Saudi market stems from our firm belief in its status as one of the region’s most stable, attractive, and profitable real estate markets. Moreover, the Kingdom’s remarkable urban transformation, its role as a host for major international events, along with investor-friendly regulations and the allowance of foreign property ownership, have made it a prime destination for global investors—and an ideal choice for our expansion.”

Al Rajawi added that the Sakan View project in Jeddah is a distinguished residential development aimed at offering the highest standards of luxury for its residents, while also ensuring strong investment returns. We were keen to select a strategic location for the project that allows easy access to all essential services.

On another front, the company is preparing to launch its largest project in the capital, Riyadh— a milestone that will mark a major turning point in its development journey within the Kingdom, he noted.

For his part, Eng. Mohamed Al-Asry, CEO of New Event Developments, highlighted the company’s commitment to the highest global quality standards at every stage of the project.

He noted that the company will leverage its extensive experience gained over years of operation in multiple countries, while also utilizing the latest technologies in the real estate industry. New Event will also collaborate with top engineering consultants to ensure the project is delivered on schedule and built to the highest standards of modern and sustainable construction.

Eng. Al-Asry concluded, “Fostering long-term partnerships with our clients lies at the heart of our strategy. Additionally, customer satisfaction isn’t merely a target—it’s the cornerstone of every plan and project we undertake.”